Rebuilding Credit After Bankruptcy
One of the reasons you might file bankruptcy is to get out from underneath the daunting debt that has piled up over time. But how do you build your credit back up after your bankruptcy case is discharged? Many individuals will want to purchase a home or motor vehicle in the future and it is…
Even the Debt Collectors Have Rules to Play By
At the end of a long work day, and after you have put the kids to bed, cleaned dishes, all you want to do is relax. Then the phone rings…and rings…and rings. You recognize the number as a collection agency calling about your delinquent credit card bill. What are debt collectors allowed to do and what is off…
Debunking Commonly Asked Bankruptcy Myths
When you are considering filing bankruptcy you will hear all kinds of bankruptcy myths – information which is half-true, misleading or outright false. Bankruptcy tales vary and grow with lore each time they are told. Here are some of the most common myths that I have heard: I will lose everything that I own if I…
What Happens When You Inherit Property While in Bankruptcy?
When you file for bankruptcy protection everything that you own becomes property of your bankruptcy estate. But what happens to property you acquire after you file bankruptcy? Typically, after acquired property is of no concern; however, if you inherit property after your case is filed timing becomes important. 11 U.S.C. § 541 puts forth a complete…
How to Stop a Wage Garnishment
Once a creditor obtains a judgment against you their next step is to try and collect on the judgment. The options the creditor typically exercise are (1) file for a wage garnishment, (2) file for a bank attachment, and (3) file a certificate of judgment. If you are employed the garnishment of your wages is…
Changes to the Official Bankruptcy Forms Beginning December 1, 2015
Starting December 1, 2015 all United States Bankruptcy Courts will be using new bankruptcy forms for cases filed on or after this date. These new forms will also be used for cases filed prior to December 1, 2015 but that require amended filings, additional filings, etc. The United States Courts’ website states that “all but…
Some Advantages of Chapter 13 Bankruptcy Cases
While Chapter 7 might be the more “popular” way to file for bankruptcy relief there are several advantages of Chapter 13 bankruptcy. One reason people file for Chapter 13 bankruptcy is because they make too much money to qualify for Chapter 7. However, there are many more reasons to file for bankruptcy protection under Chapter 13. Some…
The Proof of Claim – How Creditors Get Paid
When you file a Chapter 13 bankruptcy case one of the most important responsibilities is to disclose a complete list of your creditors. Once the case is filed this list is filed with the Court and the Court sends out a notice to each creditors listed. Once the creditor receives notice of your bankruptcy case…
Median Family Income for Cases Filed On or After November 1, 2015
This article is now outdated, please refer to our new article on Median Family Income after May 1st, 2016 to find the latest figures. The Median Family Income in Ohio amount is a dollar amount that is very important when trying to figure out whether you can file a Chapter 7 bankruptcy case. When discussing or…
How To Put Together Your List Of Creditors
Filing bankruptcy requires you to file certain information with the United States Bankruptcy Court. One of these documents is the mailing matrix or list of creditors. It is in your best interest to provide an accurate list in order for your creditors to receive actual notice of your case filing. Sometimes clients are not aware…